Circulating systems for pumping and dispensing fluid, such as paint, are well known and typically consist of a single pump drawing from a fluid source or reservoir. The pump output is connected to a circulating loop supply line having one or more drops off of the output of the pump for supplying spray guns or other dispensing devices. After the drops, the fluid is returned to the tank by way of a back-pressure regulator which serves to maintain the desired pressure in the supply line.